News Releases

December 19 2011

AXMIN CLOSES SALE OF REMAINING INTEREST IN SIERRA LEONE JOINT VENTURE TO POLO RESOURCES LIMITED FOR US$9 MILLION

Toronto, Ontario – December 19, 2011 – AXMIN Inc. (TSX Venture: AXM) The (“AXMIN” or the “Company”) is pleased to announce today that it has closed the sale of its remaining 49% interest in Nimini Holdings Limited (“Nimini”) to Polo Resources Limited (AIM and TSX: POL) (“Polo”) for a cash consideration of US$9 million. Polo will now hold 100% interest in the Nimini East, Nimini West and Matotoka exploration licences, through its wholly-owned subsidiary Nimini.

President and CEO of AXMIN, Mr. George Roach comments, “In consideration for AXMIN’s 100% interest in Nimini, Polo has paid AXMIN US$16.5 million during the fourth quarter of 2011. This amount will ensure that AXMIN enters 2012 with a much stronger balance sheet as we focus our resources on advancing the Central African Republic assets.”

About Polo

Polo is a natural resource Investment Company focused on investing in undervalued companies and projects with strong fundamentals and attractive growth prospects. For complete details on Polo: www.poloresources.com

About AXMIN

AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN has projects in Central African Republic, Mali, Mozambique, Sierra Leone, Senegal and Zambia. For more information regarding AXMIN visit our website at www.axmininc.com br>For additional information please contact AXMIN Inc.:

George Roachbr> President & CEO

DDirect T:+44 779 626 3999

Judy Websterbr> Manager Investor Relations

T: 416 368 0993 ext 221

ir@axmininc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro, to revalidate the BFS and to satisfy the terms of the Mining Licence as negotiated, are forward-looking statements that involve various risks and uncertainties.

There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN’s documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities.  AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.